Asian Development Outlook Special Note: Strength of Recovery in 2010 Is Exceeding Expectations
This special note provides additional information on the economic forecasts provided by the Asian Development Outlook 2010 Update.
The recovery in developing Asia appears to be even stronger than envisaged in the Asian Development Outlook 2010 Update (the Update), which was released in September. Robust third quarter expansion in gross domestic product (GDP) reaffirms the view that the region is leading the world in the recovery from the recent economic crisis. The region is now expected to expand at a rapid 8.6% in 2010, an upward adjustment from the 8.2% growth forecast in the Update. However, recent macroeconomic data continue to support the view that growth will decelerate in 2011. Accordingly, the 2011 forecast for developing Asia is still 7.3%.